The following is a summary of the Operating Partnership's total secured notes payable outstanding as of December 31, 2025 and December 31, 2024 (in thousands):


Description of Debt	Principal Balance as of				Stated Interest Rate		Stated Maturity Date
	December 31, 2025		December 31, 2024		as of December 31, 2025
City Center Bellevue (1)	$	75,000	$	75,000	5.08	%	October 1, 2027
	75,000		75,000
Debt issuance costs, net of accumulated amortization of $723 and $632, respectively	(151)		(241)
Total Secured Notes Payable	$	74,849	$	74,759

The following is a summary of the Operating Partnership's total unsecured notes payable outstanding as of December 31, 2025 and December 31, 2024 (in thousands):


Description of Debt	Principal Balance as of				Stated Interest Rate			Stated Maturity Date
	December 31, 2025		December 31, 2024		as of December 31, 2025
Term Loan A	$	100,000	$	100,000	Variable		(1)	January 5, 2027

Term Loan B	—		150,000		Variable		(3)	January 5, 2025	(2)
Term Loan C	—		75,000		Variable		(3)	January 5, 2025	(2)
Senior Guaranteed Notes, Series C	—		100,000		4.50	%		April 1, 2025	(4)
Senior Guaranteed Notes, Series D	250,000		250,000		4.29	%	(5)	March 1, 2027
Senior Guaranteed Notes, Series E	100,000		100,000		4.24	%	(6)	May 23, 2029
Senior Guaranteed Notes, Series G	150,000		150,000		3.91	%	(7)	July 30, 2030
3.375% Senior Unsecured Notes	500,000		500,000		3.38	%		February 1, 2031
6.150% Senior Notes	525,000		525,000		6.15	%	(8)	October 1, 2034
	1,625,000		1,950,000
Debt discount and issuance costs, net of accumulated amortization of $8,720 and $9,890, respectively	(12,239)		(14,244)
Total Unsecured Notes Payable	$	1,612,761	$	1,935,756

(1)The Operating Partnership has entered into two interest rate swap agreements that are intended to fix the interest rate associated with Term Loan A at approximately 2.70% through its maturity date, subject to adjustments based on our consolidated leverage ratio.

(3)The Operating Partnership entered into interest rate swap agreements that are intended to fix the effective interest rate associated with Term Loan B and Term Loan C, subject to adjustments based on our consolidated leverage ratio, at, 5.47% from January 5, 2023 to January 4, 2024 and at 5.57% from January 5, 2024 to January 4, 2025.

(5)The Operating Partnership entered into forward-starting interest rate swap contracts on March 29, 2016 and April 7, 2016, which were settled on January 18, 2017 at a gain of approximately $10.4 million. The forward-starting interest swap rate contracts were deemed to be highly effective cash flow hedges, accordingly, the effective interest rate is approximately 3.87% per annum.

(6)The Operating Partnership entered into a treasury lock contract on April 25, 2017, which was settled on May 11, 2017 at a gain of approximately $0.7 million. The treasury lock contract was deemed to be a highly effective cash flow hedge, accordingly, the effective interest rate is approximately 4.18% per annum.

(7)The Operating Partnership entered into a treasury lock contract on June 20, 2019, which was settled on July 17, 2019 at a gain of approximately $0.5 million. The treasury lock contract was deemed to be a highly effective cash flow hedge, accordingly, the effective interest rate is approximately 3.88% per annum.

(8)The Operating Partnership entered into a treasury lock contract on September 9, 2024 for $150 million and September 10, 2024 for an additional $150 million, which were both settled on September 10, 2024 at a combined loss of approximately $1.3 million. The treasury lock contract was deemed to be a highly effective cash flow hedge, accordingly, the effective interest rate is approximately 6.209% per annum.